Equifax has announced its intent to acquire payment disputes expert Midigator for an undisclosed sum.
A provider of post-transaction fraud mitigation solutions, Midigator offers a multi-layer approach for preventing chargebacks.
The acquisition, which will see Midigator become a part of Equifax’s USIS business unit, is set to further the firm’s foothold in the digital identity and fraud prevention solutions market.
Notably, the automated and data-driven technology platform by Midigator streamlines the dispute response process, in addition to offering insight into the underlying reasons behind chargebacks in real-time.
The platform will add to Equifax’s AI-based Kount Identity Trust Global Network that links trust and fraud data signals from diverse digital interactions occurring from varied devices across countries and territories.
"The acquisition of Midigator will bolster the expansion of our digital identity network for current and prospective customers while further enabling new forms of engagement in online commerce," said Sid Singh, president of United States Information Solutions (USIS) at Equifax.
"We're seeing strong demand from clients and partners for digital identity and fraud prevention solutions that encompass the entire customer journey, specifically around the desire to mitigate and manage post-transaction issues.”
“Many organizations are in markets that weren't prone to friendly fraud before. Now they are. By combining our Kount pre-authorization and preventative protection capabilities with Midigator's complementary intelligent post-authorization and automated chargeback technologies, we'll be able to provide a complete solution that enhances customer experience while helping businesses to protect and recover revenue," added Singh.
The Equifax-Midigator acquisition deal is anticipated to close in the third quarter of the current fiscal year.
